US Debt talks panic markets globally

The lack of any political agreement in the US over the raising of the Debt ceiling has kicked a snowball of equity selling down the hill, globally.

Again in Europe at the market opening, there is a sea of red as equities are sold across the board, ahead of the weekend, when any negative news from the US might cause chaos and freefall in many financial markets.

With a key date largely seen as August 2nd for the US to meet debt repayments, the markets needs this to be resolved very quickly indeed to avoid a financial bloodbath, early next week.